-1

Is the $1,680 retiree cash rebate from IRS Sec 408 legit as declared in newsletter solicitation? Spam email offers insights in special pamphlets with subscription to Oxford material.

  • Each section of the tax code often has sub sections. A search on "IRS Sec 408 rebate" leads here and nowhere else. What, exactly do you think it says? A rebate for what? – JoeTaxpayer Mar 21 '18 at 15:28
  • Its highly unlikely. Its mostly likely something available only in a special situation in which some kind of overpayment to the IRS has been made relating to a retirement account. Such spam emails often use such "bait and switch" subject lines to sucker people in. law.cornell.edu/uscode/text/26/408 – Norm Mar 21 '18 at 17:02
3

This is probably a sideways reference to 26 U.S. Code § 408 - Individual retirement accounts, the laws governing IRAs and contributions made under that heading. The rules associated with IRAs are well publicized, and any reputable tax preparation service will take your IRA contributions / withdrawals into account when filing your tax return.

Regardless of where this solicitation came from, they're looking to charge you for information which is publicly available, and I would recommend that you just ignore it. If you want to read up more on "IRS deductions and refunds for IRAs", you can do a web search and learn everything that they would tell you, for no money other than the cost of your internet service.

  • 1
    To add credence to this theory, I think it is safe to say that the wording on the pamphlet was specifically not the exact way it is referred to by the IRS, to limit the ability of the recipient from being able to google it. Even well respected institutions often 'dumb down' tax wording in a way that, in my opinion, allows them to control the flow of information, and therefore attempt to charge for it. – Grade 'Eh' Bacon Mar 28 '18 at 17:00

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.